Greece has sent payment request for 3.6 billion euros under RRF, EU Commission says

The European Commission on Monday announced that it has received a payment request from Greece for a 3.6-billion-euro payment under the Recovery and Resilience Facility (RRF) on December 29, 2021.

It said that Greece has sent a request to the Commission for a disbursement of 3.6 billion euros in financial support (net of pre-financing). Greece’s overall recovery and resilience plan will be financed by 17.77 billion euros in grants and 12.73 billion euros in loans. Greece’s payments under the RRF are performance-based and contingent on Greece implementing the investments and reforms outlined in its recovery and resilience plan.

Greece’s first payment request relates to 15 milestones covering several reforms and investments in the areas of energy efficiency, sustainable mobility, waste management and civil protection, active labour market policies, healthcare, tax administration, justice, business extroversion, and the audit and control system linked to the Recovery and Resilience Facility. Two of the milestones and targets concern the first steps of the implementation of the loan part of the Facility.

The Commission now has two months to assess the request. It will then send its preliminary assessment of Greece’s fulfilment of the milestones and targets required for this payment to the Council’s Economic and Financial Committee (EFC).